Ms. Laud was head of equity at Fidelity International. A Fidelity spokeswoman said Ms. Laud's responsibilities have been assumed by existing team members.

Mr. Riley was portfolio manager and head of client solutions portfolio management Europe, the Middle East and Africa at BlackRock (BLK). "Will Riley has decided after 13 years at BlackRock to depart for a new career opportunity. We would like to thank him for his contributions to the firm and wish him well for the future," a BlackRock spokeswoman said.

Ms. Laud and Mr. Riley's "experience in financial markets, client focus and outcome-orientated approach will be invaluable as we continue to deliver holistic solutions ... to meet the evolving needs of our clients," said Anton Eser, LGIM's CIO, in a news release.